Boeing's Airplane Deliveries Plunge Amid Safety Review

(MENAFN- Baystreet) Monopar Shares Cheer Trial Results

  • ProPhase Flat on Cancer Drug Progress
  • Delta Air Lines Announces Record Q1 Sales
  • Weekly AI Watch on Intel/AI and Google Cloud Next
  • Wednesday's Trades Previous Articles Subscribe to Get Small Cap News & Alerts Baystreet Staff - Wednesday, April 10, 2024

    Boeing's Airplane Deliveries Plunge Amid Safety Review

    Boeing's (BA) airplane deliveries plunged in the first quarter to their lowest level since the depths of the pandemic in 2021 as the company faces increased regulatory scrutiny amid a safety crisis at the commercial aircraft manufacturer.

    Boeing has faced increased safety reviews from the Federal Aviation Administration (FAA) after a door plug blew off one of its 737 Max 9 airplanes this January.

    For the first quarter, Boeing said it delivered 83 new airplanes to customers, down 47% from 157 deliveries in the previous quarter.

    By comparison, Boeing's archrival Airbus (AIR) of France delivered 142 new airplanes in the first three months of this year.

    Since the January accident, the FAA has inspected Boeing's 737 Max production and barred the company from increasing output of its aircraft until it signs off on its quality control procedures.

    Boeing's management team has said that the company is slowing down its production to improve quality controls.

    However, despite the safety issues and production slowdown, Boeing is still receiving new aircraft orders from major airlines.

    The company said it received orders for 111 new planes in March of this year, with 85 of them coming from American Airlines Group (AAL).

    Boeing is scheduled to report its first-quarter financial results on April 24.

    The stock of Boeing has declined 30% year to date and currently trades at $178.12 U.S. per share.

    • About Us
    • Contact Us
    • Advertise
    • License Our Content
    • Jobs
    • Disclaimer
    • Privacy Policy

    Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks



    Legal Disclaimer:
    MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.